Forex News

Ahead of Monday's holiday for Coronation Day, the Thai stock market has bounced higher again, one day after ending the two-day winning streak in which it had added almost 10 points or 0.7 percent. The Stock Exchange of Thailand now sits just beneath the 1,370-point plateau and it's likely to move higher again on Tuesday. The global forecast for the Asian markets is upbeat on renewed optimism over the outlook for interest rates. The European and U.S. markets were firmly higher and the Asian markets are predicted to open in similar fashion. The SET finished modestly higher on Friday as gains from the resource, service and technology stocks were tempered by weakness from the food and finance companies. For the day, the index added 6.67 points or 0.49 percent to finish at 1,369.92 after trading between 1,364.26 and 1,372.72. Volume was 12.500 billion shares worth 37.541 billion baht. There were 256 gainers and 190 decliners, with 217 stocks finishing unchanged. Among the actives, Thailand Airport rose 0.38 percent, while Bangkok Bank fell 0.37 percent, Bangkok Dusit Medical gathered 0.87 percent, Bangkok Expressway jumped 1.82 percent, B. Grimm spiked 2.91 percent, CP All Public sank 0.85 percent, Charoen Pokphand Foods dropped 0.98 percent, Energy Absolute rallied 2.48 percent, Gulf gained 0.61 percent, Krung Thai Bank collected 0.60 percent, Krung Thai Card climbed 1.17 percent, PTT Oil & Retail advanced 1.08 percent, PTT accelerated 1.50 percent, PTT Global Chemical increased 1.00 percent, Siam Concrete strengthened 1.62 percent, Thai Oil added 1.41 percent, True Corporation improved 1.24 percent and TTB Bank, Kasikornbank, Siam Commercial Bank, PTT Exploration and Production, SCG Packaging, Asset World, Advanced Info, Banpu and BTS Group were unchanged. The lead from Wall Street is broadly positive as the major averages opened higher on Monday and remained firmly in the green throughout the trading day.

The Indonesia stock market has moved higher in two straight sessions, collecting almost 20 points or 0.3 percent along the way. The Jakarta Composite Index now sits just above the 7,135-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets is upbeat on renewed optimism over the outlook for interest rates. The European and U.S. markets were firmly higher and the Asian markets are predicted to open in similar fashion. The JCI finished barely higher on Monday following gains from the resource stocks and a mixed picture from the financial sector. For the day, the index perked 1.17 points or 0.02 percent to finish at 7,135.89 after trading between 7,102.69 and 7,178.77. Among the actives, Bank CIMB Niaga slumped 1.37 percent, while Bank Mandiri jumped 2.03 percent, Bank Danamon Indonesia skidded 1.11 percent, Bank Negara Indonesia fell 0.41 percent, Bank Central Asia shed 0.51 percent, Bank Rakyat Indonesia collected 0.84 percent, Indosat Ooredoo Hutchison advanced 0.94 percent, Indocement skidded 1.04 percent, Semen Indonesia rallied 1.51 percent, United Tractors perked 0.08 percent, Astra International tanked 2.39 percent, Energi Mega Persada dropped 0.97 percent, Aneka Tambang strengthened 1.68 percent, Vale Indonesia soared 5.41 percent, Timah surged 3.45 percent, Bumi Resources spike 3.00 percent and Astra Agro Lestari and Indofood Sukses Makmur were unchanged.

Adding to the gains in the previous three sessions, the Australian stock market is notably higher on Tuesday, following the broadly positive cues from global markets overnight. The benchmark S&P/ASX 200 is moving above the 7,700 level, with gains across most sectors led by technology stocks as well as mining and energy stocks amid firmer commodity prices.

The Hong Kong stock market has moved higher in 10 straight sessions, gathering more than 2,370 points or 13.8 percent along the way. The Hang Seng Index now sits just above the 18,575-point plateau and it's looking at another firm lead for Tuesday's trade.

The services sector in Japan continued to expand in April, and at a faster pace, the latest survey from Jibun Bank revealed on Tuesday with a services PMI score of 54.3.

The China stock market returned to the upside from its Labor Day break, bouncing higher again after snapping the four-day winning streak in which it had gathered almost 100 points or 3 percent. The Shanghai Composite Index now sits just above the 3,140-point plateau and it may see continued support on Tuesday. The global forecast for the Asian markets is upbeat on renewed optimism over the outlook for interest rates. The European and U.S. markets were firmly higher and the Asian markets are predicted to open in similar fashion. The SCI finished sharply higher on Monday following gains from the insurance companies and mixed performances from the resource and property stocks. For the day, the index climbed 35.90 points or 1.16 percent to finish at 3,140.72 after trading between 3,126.77 and 3,142.38. The Shenzhen Composite Index rallied 36.33 points or 2.07 percent to end at 1,792.41. Among the actives, Industrial and Commercial Bank of China skidded 1.10 percent, while Bank of China tanked 2.40 percent, China Construction Bank and China Shenhua Energy both sank 0.70 percent, China Merchants Bank strengthened 1.66 percent, Bank of Communications retreated 1.31 percent, China Life Insurance accelerated 3.26 percent, Jiangxi Copper fell 0.34 percent, Aluminum Corp of China (Chalco) rose 0.40 percent, Yankuang Energy jumped 1.95 percent, PetroChina plunged 2.53 percent, China Petroleum and Chemical (Sinopec) shed 0.47 percent, Huaneng Power advanced 0.85 percent, Gemdale slumped 1.26 percent, Poly Developments dropped 0.90 percent, China Vanke gained 0.67 percent and China State Construction Engineering climbed 1.12 percent.